Ashford Hospitality Trust Inc · NYSE:AHT
Ashford Hospitality Trust — IPO Roadshow (September 2020)
11 slides from Ashford Hospitality Trust's IPO roadshow presentation, Sep 10, 2020
Slide 1: Preferred Exchange Offer – September 2020 Investor Presentation
Preferred Exchange Offer – September 2020 Investor Presentation
Slide 2: Forward Looking Statements and Non-GAAP Measures
Forward Looking Statements and Non-GAAP Measures In keeping with the SEC's "Safe Harbor" guidelines, certain statements made during this presentation could be considered forward-looking and subject to certain risks and uncertainties that F o r w a r d L o o k i n g S t a t e m e n t s a n d N o n -
Slide 3: Introduction
Introduction Ashford Hospitality Trust has launched an exchange offer for its outstanding preferred stock Presentation Team Rob Hays President / Chief Executive Officer Deric Eubanks Chief Financial Officer 20 years of hospitality experience 17 years with Ashford Hospitality Trust 3 years with ClubC
Slide 4: Portfolio Overview
Portfolio Overview Ashford Hospitality Trust’s portfolio consists primarily of upper upscale, full-service hotels across the U.S. 107 HOTEL S (1) 23,382 HOTEL ROOM S (1) 28 STATES (1) Portfolio IHG 2% HYATT by Hotel Revenue(1) INTERSTATE 1% LUXURY 6% HYATT 4% UPPER MIDSCALE 2% SELECT-SERVICE 24% 5%
Slide 5: COVID Impact on the Hospitality Industry
COVID Impact on the Hospitality Industry COVID has significantly impacted the hospitality industry; following prior major industry downturns, a full recovery has typically taken approximately three to four years Annual Revenue Per Available Room % Change (1) 10.0% - (10.0%) (20.0%) (30.0%) (40.0%) (
Slide 6: Challenges with the Business
Challenges with the Business Ashford Hospitality Trust has announced the suspension of all dividend payments to the preferred stock Situation Overview The outbreak of COVID-19 has and continues to significantly impact occupancy rates and Ashford Hospitality Trust’s performance at many of its hotels
Slide 7: Trading Performance of Existing Preferred Securities
Trading Performance of Existing Preferred Securities At the launch of the exchange, the preferred securities were trading at prices between $4.22 and $5.10 The preferred shares have traded off since the beginning of the year 30 AHT 8.45% Series D AHT 7.375% Series F AHT 7.375% Series G AHT 7.50% Ser
Slide 8: The Exchange Offer
The Exchange Offer Investors can elect one of two options: Stock Option: Ashford Hospitality Trust exchanges preferred stock for common stock at an exchange ratio of one preferred share for a fixed number of common shares as outlined in the table below Cash Option: Ashford Hospitality Trust purchase
Slide 9: Hypothetical Examples
Hypothetical Examples Hypothetical Example: Investor Exchanges 100 Shares of Preferred Series D for the “Stock Option” Stock Option Consideration 5.58 common per 1 preferred share Hypothetical Example: Investor Exchanges 100 Shares of Preferred Series D for the “Cash Option” Cash Option Consideratio
Slide 10: Rationale for Participation / Considerations for Non-Participation
Rationale for Participation Rationale for Participation Considerations for Non-Participation The exchange offer provides consideration that is higher than the preferred stock price (prior to the announcement of the exchange offer): If the exchange offer receives participation of 66 2/3% of the outst
Slide 11: How to Participate / Key Contacts
How to Participate / Key Contacts How to Participate To participate in the exchange offer, preferred shareholders should contact their broker or custodian and ask them electronically submit on their behalf The offer is open for electronic submission through DTC’s ATOP (Automated Tender Offer Process
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